by Sunday | Oct 23 | Economics JAMB
A. is perfect elastic B. slopes upwards C. slopes of downwards D. is perfectly inelastic Correct Answer: Option C – slopes of downwards Explanation The factors of production demand curve indicate the quantity of a factor demanded at alternative factor prices....
by Sunday | Oct 23 | Economics JAMB
A. there is mobility of factors of production B. no single seller dominates the market C. the firms are price-takers D. consumers have perfect knowledge of price Correct Answer: Option B – there is mobility of factors of production Explanation Monopolistic...
by Sunday | Oct 23 | Economics JAMB
A. enjoying free entry and exit B. operating at full capacity C. operating below capacity D. maximizing profits Correct Answer: Option A – enjoying free entry and exit Explanation Elastic supply curves indicate that the quantity supplied response to price...
by Sunday | Oct 23 | Economics JAMB
A. increasing efficiency B. economies of scale C. diseconomies of scale D. increasing marginal returns Correct Answer: Option C – diseconomies of scale Explanation The long-run average cost (LRAC) curve shows the firm’s lowest cost per unit at each level...
by Sunday | Oct 23 | Economics JAMB
A. reducing average cost as production increases B. benefiting from the activities of other firms C. maximizing profits as production increases D. having an upward-sloping average cost curve Correct Answer: Option A – reducing average cost as production...
Land Law and the Consequences of Unauthorized Land Transfers in Nigeria
Original price was: ₦1,000.00.₦300.00Current price is: ₦300.00.